Land contracts from investors to owner-occupants are basically dead in Michigan.

If the cleaner can't make it, my family can do it.Our occupancy is still low overall, but we are just getting started, and so far I haven't used sites like VRBO yet.

Are there restrictions as to when the "owner occupant" can sell it?

Additionally, Fannie Mae favors owner occupants. 97% or more owner occupants are purchasing with FHA Loans, which requires the dwelling to be in particular shape.

Another issue with listed properties is that a lot of other people (owner occupants, buy and hold investors, wholesalers, flippers, etc) will be exposed to this property (assuming it is in the MLS).

@Zach AdamsAs a general statement, investment property purchases are more expensive than owner occupant purchases.  

The one I rolled in was hard to refinance because of a high non owner occupancy ratio in the complex (too many renters to owners).I know going forward I will likely have to do shorter loan lengths (because I am over 4) and am fine with that as long as the numbers make sense.I would go with 30 year mortgages with traditional loans when offered on your first 4. 

From the limited research I have done, based on lending to non owner occupants, it appears that there is little licensing requirements.  

For that class of property, which may very well have owner occupancy, I agree.  

I am looking at a 7 unit short sale with only one occupant and no financials (because managing partner is not cooperating with the bank).In preparing my analysis for investors/financing, I am trying to get a rough estimate for wastewater costs.